What is contract of insurance discuss the kind of insurance

Insurance is a contract in which an insurer indemnifies another against losses from specific contingencies or perils. It helps to protect the insured person or their family against financial loss. There are many types of insurance policies. Life, health, homeowners, and auto are the most common forms of insurance.

What do you mean by a contract of insurance?

The insurance contract or agreement is a contract whereby the insurer promises to pay benefits to the insured or on their behalf to a third party if certain defined events occur. Subject to the "fortuity principle", the event must be uncertain.

What is insurance explain the types of insurance?

There are, however, four types of insurance that most financial experts recommend we all have: life, health, auto, and long-term disability."